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Investing.com - Kepler Cheuvreux downgraded Genus Plc (LON:GNS) from Buy to Hold while raising its price target to GBP27.00 from GBP20.75.
The rating change follows Genus’s recent announcement containing positive developments that prompted Kepler Cheuvreux to increase its EBIT and EPS forecasts for the company.
The research firm noted that the news from Genus improved the company’s risk profile, specifically citing increased confidence in the recovery of ABS and the pathway for commercializing PRP in China.
Despite the positive developments, Kepler Cheuvreux believes the strong year-to-date performance of Genus shares has already incorporated much of this good news.
The firm stated that "most of the positives mentioned were already anticipated to some extent," leading to the downgrade while maintaining a higher price target.
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